ServiceSource (NASDAQ: SREV) revealed it hired Chad Lyne as its Senior Vice President of Strategy and Corporate Development. According to the company, Lyne brings in more than 15 years of strategic planning, corporate development and mergers and...

ServiceSource International (NASDAQ:SREV) provides organization with the ability to manage their service revenue. Its tools help technology companies to increase the rate of renewal of maintenance, support, and subscription. ServiceSource provides its services in the cloud as a Software as a Service as well as having a dedicated service sales team. The company generates revenue by Pay-for-performance. In other words, it charges its customers based on the renewal of sales ServiceSource creates.[1]

Because ServiceSource uses a pay-for-performance model, it is able to increase its user base relatively easily. Most customers have either little or no upfront costs to joining the organization. In addition, the company sells to companies across 30 different languages and is not restricted to a single user base.[2]

ServiceSource International total revenue for the full year 2010 was $152.9M. This was a 38% increase over the $110.7M total revenue for 2009. The company reported a net loss of $2.6M for 2010. This compares to a net income of $10.4M in 2009. This was due, in part, from a roughly 50% increase in sales and marketing expenses.
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